PHILWEB Posts Record Growth

PhilWeb Corporation, posted net income of P477 million for the first three quarters of 2010, 28% higher than the P373 million it posted for the same period in 2009. Revenues totaled P755 million, up 30% year on year, compared to P580 million in the first nine months of 2009.

PhilWeb Corporation is the Philippines’ first and largest listed online technology firm and leader in online gaming.

"We are particularly pleased with our third quarter results, as it shows that our core businesses remain robust," PhilWeb president Dennis Valdes said.

Valdes said the Philweb remitted a total of P921 million to PAGCOR through the 3rd quarter of 2010, representing the 60% PAGCOR share in the e-Games Internet Cafe and Internet Sports Betting Station businesses. He noted that the PAGCOR share for these businesses come with no capital expenditures or  operating expenses on their part,  thus the total remittance flows directly to the PAGCOR bottom line.

Remittances through October 31st have reached Ph1.1 billion. "We expect to remit over P1.3 billion to PAGCOR for 2010," stressed Valdes.

"We are also pleased with our businesses' performance at the start of the fourth quarter this year, which show continued growth. Thus, we remain confident that 2010 will be a record year for PhilWeb, both in terms of revenues and net income," said Valdes.

Source:

Philweb disclosure to PSE

October 29, 2010

SM City Novaliches Opens to Public!

SM City Novaliches opened to the public on Friday, 22 October 2010. The new 60,334 sqm mall Located along Quirino Highway in Barangay San Bartolome, Novaliches, Quezon City.

It is SM Prime Holdings, Inc.'s 40th mall in the Philippines, its third mall in the
city, after SM City Fairview and SM City North Edsa. The new mall is estimated to have provided up to 4,000 new jobs.

SM Prime President Mr. Hans T. Sy said, “We warmly welcome all our valued customers to our newest and 40th mall, SM City Novaliches. The area of Quezon City continues to be a key expansion area for SM malls. This reinforces our confidence in the prospects of Quezon City given its vibrant population and burgeoning business sector.”

SM City Novaliches has a leasable area of 42,721 sqm. The mall’s anchor tenants are SM Supermarket, SM Department Store, SM Appliance Center, Ace Hardware, BDO, and Watsons. Other tenants include quick service restaurants Jollibee, KFC, McDonald’s, Mang Inasal, Shakey’s, and Pizza Hut; fashion and apparel retailers Bench, Penshoppe, Human, and Folded N Hung; and health and beauty salons Let’s Face It, Davids, Ricky Reyes, and GQ Barber, among others.

SM City Novaliches has a 500-seat food court, parking for over 1,200 vehicles, and a terminal for public utility vehicles. SM Prime malls in the Philippines command a total of 4.8 million sqm of mall space.

Source: PSE Disclosure
Oct 21, 2010

SM Prime to Open SM City Calamba

The Philippines’ dominant mall developer and operator, SM Prime Holdings, Inc. (SM Prime), opened SM City Calamba October 15, 2010. SM's 39th shopping mall in the country and its third in the province of Laguna, after SM City Sta. Rosa and SM City San Pablo, SM City Calamba has a gross floor area of 66,516 square meters (sqm) and occupies 55,102 sqm of land.

The new mall’s anchor tenants are SM Supermarket, SM Department Store, SM Appliance Center, Ace Hardware, BDO, and Watsons. Other mall tenants include Jollibee, McDonald’s, KFC, Red Ribbon, Bench, Penshoppe, and National Bookstore. SM City Calamba, with a leasable area of 44,740 sqm, also offers a business center, a Cyberzone, and a food court that comfortably seats up to 340 diners. The mall has four cinemas with a combined seating capacity of about 1,200 and parking slots for over 300 vehicles.

SM Prime President Mr. Hans T. Sy said, “We are pleased to open the doors of our newest shopping mall, SM City Calamba. It is SM’s third mall in Laguna, a clear testament to the robust progress and development that the province has sustained. Laguna offers a large and diverse market driven by trade and tourism. SM is here to fully support the growth of this beautiful and very promising province.”

SM City Calamba followed the opening this year of SM City Tarlac and SM City San Pablo. With 39 malls all over the country, SM Prime has developed a combined GFA of 4.8 million sqm. Before the year ends, the company is set to open SM City Novaliches in Quezon City and its fourth mall in mainland China, which will be located in the city of Suzhou.


Source PSE Disclosure
October 14, 2010